> However, you have the get the 400 oz. of e-gold in the account in the
> first place. This usually involves an inexchange. This is where the
> inexchange fees come from.
OK, I got you. However, if you wanted to buy 400oz of e-gold, you could
probably get a better deal than 4% if you either called Omnipay, or either
Goldfinger, Gaithman's, GoldNow, or StandardReserve.
> > However, if you wanted to do this right, then join the network, get an
> > account with the Bank of Nova Scotia, and then sell the bar to them
after
> > it's transferred into your account. You should get close to spot. Right?
>
> Close but no cigar... From what I understand, it takes deals on the order
> of several thousand ounces to receive spot price.
Only when buying the bars to bail them in, right? If G&SR wanted to bail-out
a bar of gold and then sell it, they would get the spot price from the Bank
of Nova Scotia. Otherwise their OutExchange rate is set too high, because
they are offering the spot price on OutExchanges. Also, E-Gold LTD requires
a 1% premium to bail out a bar, so you would need around 404oz to get a
400oz bar, if you wanted to take redemption.
Someone needs to test this. I don't think anyone's ever redeemed a bar.
Craig
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